No. They just need to inform market everything they knows before buying and inform about their changes in share holding in a timely manner. So if tomorrow Norwegian company Equinor or GreenH comes up with new business proposal, that was not known to them at the time they bought, they wont be held accountable. That is my understanding reading documents below.
More:
1. https://asic.gov.au/for-business/running-a-company/company-officeholder-duties/what-books-and-records-should-my-company-keep/notifying-a-market-operator-about-directors-interests-in-company-securities/
2. https://download.asic.gov.au/media/1241069/rg193.pdf
RG 193.2 ASIC regards s205G as an important part of the regulatory regime, which,
together with the prohibitions on insider trading and market manipulation,
helps to maintain an informed and orderly market. All market participants,
shareholders and other investors are entitled to know the shareholdings, and
changes to those shareholdings, of directors and their associates.
RG 193.3 Directors of companies have access to significantly more detailed
information about companies than shareholders do. Accordingly,
shareholders are influenced by the actions taken by directors in relation to
the acquisition or disposal of shares by them. Shareholders are entitled to
know, in a timely manner, whether directors are buying or selling shares in
the company. Similarly, shareholders are entitled to be informed of, and
companies are obliged by law to disclose, information that may impact on
the share price.
RG 193.4 Particularly at times of share price volatility, price-sensitive announcements
or takeover activity, the requirement for directors to lodge notices of changes
in shareholdings in a timely way is an important measure to ensure the
market remains properly informed
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- Ann: Appendix 3Y - Director's Interest
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